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This study takes Yunnan as an example to analyze the coupling coordination relationship between economic development and rural poverty reduction at county-level from 2010 to 2015 and investigates its forming mechanism via analytic hierarchy process, coupling coordination model and Lorenz Curves. Results indicate that the county-level economy in Yunnan had been developing rapidly from 2010 to 2015 and showed a low-level imbalance pattern with a remarkable polarization. During the study period, the incidence of poverty in rural areas of Yunnan declines dramatically but the imbalanced spatial pattern remains significant. There form a low-value area centering around the economic development pole and high-value areas centering around the remote mountain areas of Wumeng Mountain as well as the northern and southern border areas in western Yunnan. Due to the negative correlation between the economic development and the incidence of rural poverty, the relationships between county-level economic development and rural poverty reduction in 2010 and 2015 all showed a slight imbalance, and the coupling coordination status in 2015 was lower than that in 2010. The concurrent average annual growth rate of economic development and the annual slowdown of the incidence of rural poverty are on the brink of imbalance. This is mainly because the correlation between those two are negative under low-level demand combined with the islanding effect of the distribution of the poor, which reduces the poverty reduction effect. In the process of promoting the implementation of the targeted poverty alleviation policy, the accuracy of policies should be strengthened from many aspects on the basis of economic development, so as to realize the goal of poverty alleviation in 2020 as well as to provide a good foundation for the rural vitalization and a moderately prosperous society in an all-round way.
The concept of green development has been upgraded to a new strategic level in China. The discussion of influencing factors of green development and analysis of regional differences will provide reference for the government to formulate relevant policies. Based on the connotation of green development, this paper constructs the evaluation index system of regional green development and calculates the provincial green development of China from 2006 to 2014. It also constructs a spatial Durbin model to discuss the impact of technological innovation, structural change and environmental regulation on the regional green development. The results show that technological innovation can promote the green development with a spatial spillover effect. In particular, technological innovation plays a more significant role in the eastern region. FDI only contributes significantly and shows spillover effect to the green development in the eastern region. The increase of the industrial proportion in the central region not only has a significant restraining effect on the green development in that region, but also seriously affects the green development in other regions. The stricter environmental regulation only promotes the green development in the eastern region.
From the perspective of population migration in different regions, this paper uses the panel data of 31 provinces in China from 1997 to 2016 to analyze the dynamic convergence of urban-rural income gap. The results show that there are absolute convergence and conditional convergence in different regions. The speed of convergence in eastern region is slower than that in the central region but faster than that in the western region. The convergence rate in the central region is higher than the national average. Viewing from the dynamic convergence on cycles, both absolute convergence and conditional convergence show a “V” trend throughout the entire cycle. Further analysis of influencing factors of the income gap shows that population migration can significantly narrow the income gap through the urbanization of household registration. If city immigrants can successfully change into the urban registration, it can narrow the income gap. At present, this effect is weak because the migrating population in China cannot easily realize this change.
The coordinated development of Beijing, Tianjin and Hebei is one of the major national strategies for regional development in the new era, the key to which is improving the innovation efficiency of industrial enterprises in this region. Using SFA method, this paper measures the efficiency of technological innovation in Beijing-Tianjin-Hebei region based on the 2011-2015 panel data of input and output variables and environmental impact factors of technological innovation in above-scale industrial enterprises in districts of prefecture-level in this region. The results show that the overall technological innovation efficiency of the Beijing-Tianjin-Hebei is relatively low, but the innovation efficiency of Hebei province is marginally higher than that of the average. The fund input of R&D has a greater positive impact on innovation efficiency than personnel input of R&D, suggesting that the above-scale industrial innovation is more dependent on capital investment in this region. Meanwhile, it is found that the government expenditure and foreign direct investment in Beijing-Tianjin-Hebei region have a significant positive impact on the innovation of above-scale industrial enterprises, while the GDP per capita and the proportion of state-owned components show a significant negative correlation. It also puts forward suggestions for further improvement of the collaborative innovation efficiency of above-scale industrial enterprises in Beijing-Tianjin-Hebei.
Using the data of China Family Panel Studies(CFPS) in 2014 and 2016, this paper follows the “Big Five” personality analysis framework and empirically studies the impact of personality traits on farmers’ entrepreneurial decision. It is found that the agreeableness inhibits farmers’ entrepreneurial motivation, while the extraversion and openness significantly promote farmers’ entrepreneurial participation. In addition, agreeableness has greater marginal effect on the wide scope entrepreneurship of farmers, while the influence of extraversion and openness is more prominent in narrow scope entrepreneurship. The study also finds that a larger family size and better comprehension of householders are conducive to farmers’ entrepreneurship, and that entrepreneurship is greater in central and eastern regions than that in western region.
Adopting the field survey data of 1223 farmer households in concentrated contiguous destitute areas of Liupan Shan, this paper discusses the influencing mechanism of farmland transfer and sidelining on poverty alleviation from the two perspectives of income growth and income distribution. Then it empirically analyzes the income boosting effect and income distribution effect of those two influencing factors, which lay the foundation for further discussion of their relationship to poverty alleviation. The results shows that: firstly, the effect of inward farmland transfer is not significant on income growth and income distribution; secondly, outward farmland transfer and sidelining can increase the net income and narrow the income gap among farmer households; thirdly, labor force, household burden and non-farming employment also significantly affect the household income boosting effect and income distribution effect.
Based on the data of CHIP 2013 provided by the survey of income of residents in China, this paper adopts Mincer equation in its measurement of educational return rate and its decomposition of wage income gap. It is found that the educational return rate of rural residents is 4.6% after correcting the sample selection bias. Analysis through quantile regression finds that the educational return rate doesn’t increase or decrease linearly with the change of income and the rule of tool variable corrects the endogenous bias estimation. It is also found that the return of academic education presents an “N” shape curve and the congestion of primary and secondary human capital leads to lower return on education of middle income group. Through Shapley regression decomposition, it is found that the difference of human capital stock leads to the main imbalanced distribution of wage income in rural China, while the segmentation of primary and secondary labor markets lies in the economic structure of urban-rural dual segmentation. On this basis, the paper puts forward some countermeasures and suggestions to further reduce the income gap of rural residents as well as to promote poverty alleviation through education.
By using the panel data of China’s OFDI between 2006 and 2015 of 38 countries along “Belt and Road”, this paper systematically investigates the impact of the host country’s institutional characteristics and economic environments on China’s OFDI, and its corresponding “proximity effect” between the host country and “the third country” based on spatial Durbin model. The total sample results show that China’s OFDI presents a significant preference for resource endowment in the host country market, with an obvious pursuit of potential market and low labor cost. It also prefers lower political and higher economic institutional environments. The proximity effect of total sample presents itself as a spillover effect. The regression results of 15 countries in the central and western Asia concord with empirical results of the total sample. However, the subsample results of 10 European countries show that China’s OFDI has no significant correlation to the political and economic institutional environment of these host countries. The proximity effect here presents itself as crowding out effect, which is influenced by wages in neighboring countries, market scale and bilateral trade volume with China.
By constructing the transnational panel data on the basis of service export data from 2000 to 2015 in 62 countries around the world, this paper makes improvements on the traditional measurement method for the export sophistication of service trade and explores the influencing factors of technological sophistication of service trade export based on the theory of endogenous growth and the cost discovery model. Then by using the system GMM statistical method, it analyzes the influence on technological sophistication of export from factors such as institutional quality and natural resource endowment. The research shows: 1) The interaction between natural resource endowment and institutional quality can significantly promote the technological sophistication of export. 2) Human resource, capital stock, infrastructure, number of enterprises, and openness to the outside world can increase the technological sophistication of export to different degrees. 3) There are differences in the response to above-mentioned influencing factors of technological sophistication of export in developed and developing countries.
Based on the sample of 9741 listed international companies and their counterparts in Shanghai and Shenzhen A-share stock markets during 2008-2016, this paper empirically tests the relationship among the administrative hierarchy, geographical distance and international diversification. The study finds that first, there is a significant positive relation between administrative hierarchy and international diversification of enterprises, that is, the higher the administrative hierarchy of the enterprise registration, the more likely the enterprise is to carry out the international diversification. Second, there is also significant positive relation between geographical distance and international diversification of enterprises, that is, the closer the registered place of the enterprise is to the hub city of the province, the more likely it is for the enterprises in the area to operate internationally. Thirdly, the positive correlation between the administrative hierarchy and the international diversification depends on the geographical distance, which means that compared with the influence of geographical distance, the administrative hierarchy has a greater positive effect on the international diversification.
This paper uses the WIOD database to measure the level of service manufacturization and its impact on service performance in China. The results show that manufacturization has a restraining effect on the service performance, in which the manufacturization of low and medium-tech industries inhibits the service performance improvement, while high-tech manufacturization promotes it. An in-depth internal examination of high-tech service manufacturization finds that service performance is improved by the manufacturization of service machinery, represented by automation technology, and that of service digital information, represented by ICT, which inserts the greatest positive impact on service manufacturization. Service industry should be more integrated with the information industry in that more purchase and application of high-tech manufacturing will be helpful to the improvement of performance and upgrading of service.
As an important topic of spatial economics, the industrial agglomeration is studied, home and abroad, mostly from the perspective of production factors. Both theoretically and empirically, this discussion of the accumulation effect of industrial agglomeration on human capital ignores regional heterogeneity in most cases. As a matter of fact, for countries with vast territory such as China, there is significant heterogeneity among regions and the human capital accumulation effect on industrial agglomeration may vary greatly. Using the provincial panel data of China from 1997 to 2015, this paper empirically examines the effect of manufacturing agglomeration on human capital accumulation in various regions. Results show that for the total sample, manufacturing agglomeration in China significantly promotes the constant increase of regional human capital. From the perspective of regional heterogeneity, the empirical test of sub-samples of coastal regions and inland regions show that only coastal regions enjoy significant positive effect of human capital accumulation on manufacturing agglomeration while inland regions don’t. The policy implication of this conclusion is that to better exert the role of industrial agglomeration, China must explore and implement at regional level differentiated paths and strategies of regional open-up and industrial development .
From the perspective of innovation mode differences, this paper uses the manufacturing data of 30 provinces in China from 2007 to 2014 to build a dynamic panel model, and examines the relationship between financial structure and innovation. The findings are: 1) Different risk-return characteristics of the technological innovation mode will generate a differentiated financial structure. 2) The banking system has a significant role in the promotion of imitation innovation with low risk, predictability and stable returns, and this promotion is free from market constraints. 3) Under a good market condition, the stronger the market orientation in the financial structure is, the more favorable it is to promote independent innovation with higher risk, unpredictability and uncertain returns. Therefore, in order to realize the smooth transition of China’s manufacturing innovation mode from imported imitation to independent innovation, it is necessary to promote timely transformation of the financial structure and to create a market environment conducive to the development of the financial market.
Based on the stakeholder theory and resource dependence theory, this paper examines the impact of corporate social responsibility performance on cash holdings, and carries out an empirical test adopting samples of listed companies in A-share stock markets of Shanghai and Shenzhen from 2010 to 2016. The study finds that: good corporate social responsibility performance can effectively reduce cash holdings, especially in non-state-owned enterprises; the optimization of institutional environment can strengthen the inhibiting effect of corporate social responsibility on cash holdings, especially in non-state-owned enterprises.
Based on the theory of self-control,this study takes 354 employees as samples and discusses whether performance pressure leads to workplace deceit through ego depletion on employee and investigates the mediating role of benevolent leadership. The research finds that: there is a significant positive co-relation between performance pressure and workplace deceit which happens through employees’ ego depletion; benevolent leadership positively moderates the relationship between performance pressure and ego depletion as well as the mediating effect of ego depletion on both performance pressure and workplace deceit. These conclusions help to reveal the internal mechanism and boundary condition of workplace deceit and the potential negative impacts of benevolent leadership.
Taking 113 A-share listed companies as samples that implemented the equity incentive plan in 2012 and establishing a panel model using data of 2013-2017, this paper analyses the intrinsic relationship between listed companies’ performance and equity incentive of core employees, and examines the effects of listed companies’ equity incentives. The empirical results show that the strengthening of equity incentives of core employees will have a positive effect on companies’ performance. From the perspective of incentive method, restricted stocks, which can produce relatively better equity incentive effect, is more appropriate to motivate core employees. Through analysis of subsample regression, it is found that the intensity of equity incentive of core employees shows no industry difference in promoting companies’ performance. The transition equity incentive in recent years from executives to core employees has been explained.
Future policy uncertainty is an important source of public inflation expectations. Based on this, this article establishes a VAR model with time-varying parameters (TVP-SV-VAR),then analyzes how policy uncertainty is applied to public inflation expectations, and defines the explanatory power of the influence path of central bank communication on public inflation expectations through reducing policy uncertainty. The results show that: first, the rise in policy uncertainty will raise public inflation expectations, which is mainly due to the loose-type policy preferences of policymakers under the high policy uncertainty; second, a one-point increase in central bank communication will reduce policy uncertainty by a maximum of 10 points, while the drop of 1 point in policy uncertainty will reduce public inflation expectations by a maximum of 0.003 points; third, a one-point increase in central bank communication will reduce public inflation expectations by a maximum of 0.1 points. The explanatory power of the assumption that central bank communication realizes the regulation of public inflation expectations by reducing policy uncertainty is obviously insufficient. It would be a beneficial attempt to deepen the central bank communication and improve the transparency of other policies in the future in hope of reducing policy uncertainty and stabilizing public inflation expectations.
Based on the relevant data from 2000 to 2016 in China, the paper uses the Dagum Gini Coefficient decomposition method to decompose the regional disparity of China’s regional demand structure. The study finds that the regional disparities in China’s regional demand structure is widening, and are the main reasons leading to differences in the latter. Secondly, by using the spatial panel quantile econometric model, the paper empirically tests the effect of the change in demand structure on the environmental pollution control. The study finds that there is spatial dependence between the technical efficiency and the dynamic performance of environmental pollution control; the more reasonable and more advanced the demand structure and economic development are, the more significant this positive effect on the technical efficiency and the dynamic performance of environmental pollution control is. The more rationalized and advanced the clusters of demand structure are, the greater their positive effects are on the technical efficiency of environmental pollution control. In contrast, the economic agglomeration has a significantly negative effect on the technical efficiency and the dynamic performance of environmental pollution control.
In the context of the hindrance to coping with banking competition through traditional credit business, this paper employs the micro panel data of listed banks in China during 2002-2016 and System GMM estimation in its analysis of the impact of competition on bank’s risk-taking and its influence mechanism. The results show that bank competition significantly raises risk-taking of banks and restrains innovation, which in turn heightens the positive relationship between competition and risks as innovation mainly impacts risk-taking of commercial banks through risk dispersion. Therefore, the banking sector should actively diversify its competitive strategies and carry out business upgrading transformation while regulators should guide the banking industry in an orderly manner and set proper regulatory rules as a prevention of risk superposition from drop of innovation brought about by excessive competition.
By adopting China’s monetary data from 2008 to 2015, this paper measures the fluctuation value of quarterly potential output, inflation, interest rate, inflation expectation and other indexes. Then by constructing a framework of Poole analysis that encompasses functions of expectation and total supply, it compares the loss functions in the intermediate targets of two monetary policies in the hope of providing an analytical perspective for the choice of intermediate targets of monetary policy. The analysis finds that overall, quantity-based rules were superior to price-based rules between 2008 to 2017 with loss functions close to each other in values. However, based on the development of financial market, the year 2013 became a time node in that the superiority of price-based rules started to rise significantly after that and the ratio of loss function values rose to 1.467 from a previous 0.87 in the period of 2008-2012. Based on these, this paper holds that the cost advantage of price-based intermediate targets is gaining prominence and is more suitable to the present macroeconomic operation, which shows that the intermediate target of monetary policy should transform from quantity-based towards price-based.
Based on the county-level data of total factor productivity(TFP) growth rate, tax effort and public expenditure, the Spatial Lag Model is adopted to analyse the influence of the latter two on the former. The empirical results show that there is a strong spatial correlation of TFP among the 101 counties in Inner Mongolia. Tax efforts have slightly positive contribution to the TFP, while public expenditure brings strong inhibition. The implication is that the high economic growth of a region only comes when the increase of the total factor growth rate and the improvement of its overall welfare are endogenous. Institutional improvement, technological advances, and a high savings rate are the sources of economic growth, but the momentum of high quality growth mainly lie in technological progress. The focus of supply management in developing regions must be technological innovation.
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